A precision manufacturer that builds complex optical, laser, and sensor products for other companies, counting tech giants like NVIDIA and Cisco among its customers. Fabrinet was founded in 2000 by Tom Mitchell, a co-founder of Seagate Technology, who started it by taking over a former Seagate factory in Chokchai, Thailand. Its name is a portmanteau of "fabrication" and "network," and its signature "factory-within-a-factory" model lets each customer run its own physically separated production space to protect secrets.
Fabrinet reports record Q4 and FY2026 revenue, raises credit facility, and sets FY2027 executive pay
Fabrinet reported Q4 FY2026 revenue of $1.316 billion, up 45% year-over-year, and FY2026 revenue of $4.64 billion, up 36%.
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The company amended its credit facility to increase it to THB 2.61 billion (~$78.3 million) and $100 million, and extended the drawdown period to August 20, 2044.
Fabrinet borrowed a THB 2.50 billion (~$75 million) term loan, guaranteed by the company, to support capital expenditures.
The Compensation Committee approved fiscal 2027 cash bonus targets, salary increases, and equity grants for named executive officers, including CEO Seamus Grady with a $2.625 million target bonus and $10 million RSU/PSU grants.
The company issued Q1 FY2027 revenue guidance of $1.375 billion to $1.425 billion and non-GAAP EPS of $4.10 to $4.25.
1.01 Entry into a Material Definitive Agreement · 2.02 Results of Operations and Financial Condition · 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement · 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 9.01 Financial Statements and Exhibits
Fabrinet shareholders elect two Class I directors and approve auditor and executive pay at 2025 AGM
Fabrinet held its 2025 Annual General Meeting on December 11, 2025, with 34,035,138 ordinary shares represented (about 95.0% of shares entitled to vote).
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Dr. Homa Bahrami and Caroline Dowling were elected as Class I directors for three-year terms; Bahrami received 30,454,485 votes for and Dowling received 33,202,989 votes for.
Shareholders ratified PricewaterhouseCoopers ABAS Ltd. as independent auditor for fiscal year ending June 26, 2026, with 33,447,195 votes for.
Advisory approval of named executive officer compensation passed with 32,265,705 votes for.
The report was filed under Item 5.07 to disclose the voting results of these shareholder proposals.
5.07 Submission of Matters to a Vote of Security Holders
Fabrinet reports record Q1 FY2026 revenue of $978.1M, above guidance, with record EPS of $2.66 GAAP and $2.92 non-GAAP.
Revenue for Q1 FY2026 (ended September 26, 2025) was $978.1 million, up from $804.2 million in Q1 FY2025.
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GAAP net income was $95.9 million ($2.66 per diluted share), compared to $77.4 million ($2.13 per diluted share) in the prior year quarter.
Non-GAAP net income was $105.3 million ($2.92 per diluted share), compared to $86.9 million ($2.39 per diluted share) in the prior year quarter.
For Q2 FY2026 (ending December 26, 2025), Fabrinet expects revenue between $1.05 billion and $1.10 billion, GAAP EPS of $2.91–$3.06, and non-GAAP EPS of $3.15–$3.30.
CEO Seamus Grady cited strong telecom performance, early High-Performance Computing revenue, and a smaller-than-expected datacom decline as drivers.
2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits
Fabrinet founder and Chairman Tom Mitchell retires; CEO Seamus Grady appointed Chairman
David T. ('Tom') Mitchell notified Fabrinet's board on October 13, 2025, of his immediate retirement as Chairman and director.
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Mitchell's retirement was not due to any disagreement with the company on operations, policies, or practices.
The board appointed CEO and Director Seamus Grady as Chairman, effective with Mitchell's retirement.
Mitchell founded Fabrinet in 2000 and served as CEO and Chairman until 2017, then returned as Chairman in 2018.
A press release announcing the retirement was issued on October 17, 2025.
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 9.01 Financial Statements and Exhibits
Fabrinet appoints Caroline Dowling to its Board of Directors as a Class I director
Dowling is not appointed to any board committees and will be compensated under the company's standard non-employee director policy.
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On October 13, 2025, Fabrinet's board appointed Caroline Dowling as a Class I director, with a term expiring at the next annual meeting of shareholders.
She spent over 20 years at Flex, most recently as Business Group President from 2012 until her retirement in February 2019.
Dowling currently serves on the boards of CRH plc and DCC plc, and previously served on the board of IMI plc from November 2019 to May 2025.
The company issued a press release on October 16, 2025, announcing the appointment.
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 9.01 Financial Statements and Exhibits
Fabrinet adopts fiscal 2026 executive incentive plan and salary increases for named officers
Fabrinet's Compensation Committee adopted a Cash Bonus Plan for fiscal 2026, with target bonuses ranging from $459,000 to $1,932,000 for named executive officers.
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Annual base salaries for named executive officers were increased effective June 28, 2026, with raises from 2.2% to 5.6%.
Restricted share units, performance share units, and stretch PSUs were granted to named executive officers, with grant date values ranging from $840,000 to $3,150,000 per award type.
The company also reported record fourth quarter revenue of $909.7 million and fiscal year 2025 revenue of $3.42 billion, up 19% year-over-year.
First quarter fiscal 2026 revenue guidance is $910 million to $950 million, with non-GAAP EPS of $2.75 to $2.90.
2.02 Results of Operations and Financial Condition · 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 9.01 Financial Statements and Exhibits